Stopping Foreclosure
New Years Day for most of us is a good day, but for people that have fallen behind on their mortgage their home is going to be sold on the court house steps starting at 10 o’clock. In Texas the mortgage company can only Foreclose on your home the first Tuesday of the month. This month it happens that it falls on New Years Day.
This Is where the filing a Chapter 13 Bankruptcy comes in. This is a plan that will force the mortgage company to put whatever payments that you are behind in a plan to be paid back over the next five years. While helping with your mortgage all your credit cards will be put in the plan, they will get paid from what is call disposable income that you have. The creditors have to accept the amount whether it be zero percent or a hundred percent at the end of the five years your done.
If you have fallen behind on your mortgage you should talk with a Bankruptcy Attorney to see how the bankruptcy laws can help you.
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